Compliance Officer

Compliance Officer is responsible for overseeing and implementing compliance programs and initiatives to ensure the activities in Wealth & Asset Management are conducted in a lawful, compliant and ethical manner. This job works closely with various departments to assess and manage compliance risks, monitor activities, and develop strategies to mitigate potential issues. The Compliance Officer also play a key role in promoting a culture of compliance and ethics throughout the department.

KEY DUTIES AND RESPONSIBILITIES

Conduct regular reviews and assessments of the Wealth & Asset Management operations to ensure compliance with company policies and procedures and identify compliance risks and areas for improvement.

Support the implementation of controls, compliance checks and compliance processes.

Stay current with relevant laws, regulations, and industry standards, and ensure all relevant and applicable policies and procedures align with these requirements.

Collaborate with cross-functional teams such as legal, finance, and human resources to address compliance issues, implement best practices and develop and update compliance policies, procedures, and guidelines accordingly.

Review of all manual triggers/red flags escalated on day-to-day operation and provide recommendations/reports with risk analysis and risk mitigation.

Develop and deliver compliance training programs for employees to increase awareness and understanding of compliance requirements.

Prepare and submit compliance reports to senior management, regulatory agencies, and external stakeholders as required.

Conduct internal investigations in response to compliance concerns, ethics violations, or reports of misconduct, and recommend appropriate corrective actions.

Identify and assess potential compliance risks and develop strategies to mitigate and manage them effectively.

Perform compliance audits and reviews to ensure the Wealth and Asset Management adherence to established compliance policies and procedures.

Maintain accurate and comprehensive records of compliance activities, including audit findings, corrective actions, and training records.

Promote a culture of compliance and ethics within Wealth and Asset Management by fostering a sense of responsibility and accountability among employees.

Uphold company values throughout business practices and utilise sound judgment in decision making.

Any other additional duties as may be required by management based on needs of the business.

POSITION REQUIREMENTS

WORK EXPERIENCE

A minimum of 5-7 years of experience in compliance, regulatory affairs, or a similar role within the Wealth Management and Asset Management sector of the financial services industry.

Experience of conducting trade surveillance or equivalent monitoring activities.

EDUCATIONAL QUALIFICATION

Relevant bachelor's degree in business, law, finance, or a related field.

United Arab Emirates (UAE) Securities & Commodities Authority (SCA) accreditation required.

MA or BSc in Business Administration is preferred.

Certification in compliance (e.g., Certified Compliance & Ethics Professional, Certified Regulatory Compliance Manager, CISI certificates, International Compliance Association certifications) is preferred.

SKILLS/BEHAVIOUR ATTRIBUTES

Detailed Knowledge of MENA regulatory environment and local rules (especially SCA).

Thorough understanding of regulatory frameworks, encompassing AML, KYC, and other pertinent compliance laws and regulations.

Strong knowledge of relevant laws and regulations.

Excellent analytical and problem-solving skills.

Exceptional attention to detail and organisational abilities.

Effective communication and interpersonal skills.

Ability to work independently and collaboratively with cross-functional teams.

High degree of professional ethics and integrity.

Self-motivated, goal & result oriented.

Ability to work under pressure, keeping KPI's in mind.

Sharp, strategic thinker with attention to detail.